Do you know what “venture capital” is? I do now, but once I did not, and I met a venture capitalist at a party, and she was like, “What do you do?” and I was like, “I work at a start up” (about which more here) and she was like, “Oh, great! I’m in VC!” and I had to nod and laugh and pretend I knew what she was talking about because I am scared to look stupid, lest someone force me to take the SATs again.*

I have since learned that venture capital is a special kind of money that rich people use to make more rich people and more riches. Most of those rich people are dudes, which is why it is news that female Silicon Valley venture capitalists are leaning in. This constitutes progress? YES. Ladies being ambitious and independent — even rich ladies, even in progressive Western states in progressive Western democracies — is still an anomaly:

Two of the most prominent venture capitalists in the United States have launched a new investment firm that’s generating buzz in Silicon Valley and beyond at a time of intensifying debate about diversity in the technology industry. Aspect Ventures, which was launched this month by Theresia Gouw, formerly a partner at Accel, and Jennifer Fonstad, formerly a partner at Draper Fisher Jurvetson, will focus on the booming mobile technology market. …

A 2011 survey by the National Venture Capital Association and Dow Jones VentureSource found that 89% of venture capital investors were men and 11% were women. Most of the most powerful tech VC firms, including Andreessen Horowitz, Sequoia Capital, Kleiner Perkins, Benchmark, and Redpoint are dominated by men at the highest levels, where the most important investing decisions are made.

Okay, then! Good luck with your adventure capital, ladies. Make it rain.

*Note: I still remember my final SAT scores. At one point I felt like they would be engraved on my tombstone. Maybe they will! But if so I demand that my Writing SAT II score be included as well.

To be clear, most of the money in VC funds comes from institutional investments, like pension plans and endowments, not from the VCs themselves (they’re “general partners,” vs. “limited partners” who put up the money). So, venture capital is special money from pensions and endowments that well-paid people use to make more money for the pensions and endowments.